Software - Infrastructure
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APPN vs OSPN
Revenue, margins, valuation, and 5-year total return — side by side.
Software - Infrastructure
APPN vs OSPN — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | Software - Infrastructure | Software - Infrastructure |
| Market Cap | $1.72B | $442M |
| Revenue (TTM) | $691M | $246M |
| Net Income (TTM) | $-7M | $70M |
| Gross Margin | 76.3% | 70.5% |
| Operating Margin | 0.9% | 19.4% |
| Forward P/E | 26.1x | 9.6x |
| Total Debt | $290M | $6M |
| Cash & Equiv. | $136M | $70M |
APPN vs OSPN — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Appian Corporation (APPN) | 100 | 40.7 | -59.3% |
| OneSpan Inc. (OSPN) | 100 | 58.1 | -41.9% |
Price return only. Dividends and distributions are not included.
Quick Verdict: APPN vs OSPN
Each card shows where this stock fits in a portfolio — not just who wins on paper.
APPN is the clearest fit if your priority is income & stability and growth exposure.
- Dividend streak 1 yrs, beta 0.81
- Rev growth 17.8%, EPS growth 101.6%, 3Y rev CAGR 15.8%
- 54.4% 10Y total return vs OSPN's -24.1%
OSPN carries the broadest edge in this set and is the clearest fit for value and quality.
- Lower P/E (9.6x vs 26.1x)
- 28.5% margin vs APPN's -1.1%
- 4.1% yield; 2-year raise streak; the other pay no meaningful dividend
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 17.8% revenue growth vs OSPN's 0.0% | |
| Value | Lower P/E (9.6x vs 26.1x) | |
| Quality / Margins | 28.5% margin vs APPN's -1.1% | |
| Stability / Safety | Beta 0.81 vs OSPN's 1.23 | |
| Dividends | 4.1% yield; 2-year raise streak; the other pay no meaningful dividend | |
| Momentum (1Y) | -20.3% vs APPN's -24.4% | |
| Efficiency (ROA) | 18.9% ROA vs APPN's -1.2%, ROIC 21.7% vs 0.3% |
APPN vs OSPN — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
APPN vs OSPN — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
Evenly matched — APPN and OSPN each lead in 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
APPN is the larger business by revenue, generating $691M annually — 2.8x OSPN's $246M. OSPN is the more profitable business, keeping 28.5% of every revenue dollar as net income compared to APPN's -1.1%. On growth, APPN holds the edge at +21.4% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $691M | $246M |
| EBITDAEarnings before interest/tax | $16M | $57M |
| Net IncomeAfter-tax profit | -$7M | $70M |
| Free Cash FlowCash after capex | $73M | $47M |
| Gross MarginGross profit ÷ Revenue | +76.3% | +70.5% |
| Operating MarginEBIT ÷ Revenue | +0.9% | +19.4% |
| Net MarginNet income ÷ Revenue | -1.1% | +28.5% |
| FCF MarginFCF ÷ Revenue | +10.5% | +19.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | +21.4% | +4.1% |
| EPS Growth (YoY)Latest quarter vs prior year | +4.4% | -18.9% |
Valuation Metrics
OSPN leads this category, winning 5 of 5 comparable metrics.
Valuation Metrics
At 6.2x trailing earnings, OSPN trades at a 99% valuation discount to APPN's 1159.0x P/E. On an enterprise value basis, OSPN's 5.8x EV/EBITDA is more attractive than APPN's 3070.0x.
| Metric | ||
|---|---|---|
| Market CapShares × price | $1.7B | $442M |
| Enterprise ValueMkt cap + debt − cash | $1.9B | $378M |
| Trailing P/EPrice ÷ TTM EPS | 1159.00x | 6.21x |
| Forward P/EPrice ÷ next-FY EPS est. | 26.09x | 9.61x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 3069.97x | 5.80x |
| Price / SalesMarket cap ÷ Revenue | 2.36x | 1.82x |
| Price / BookPrice ÷ Book value/share | — | 1.67x |
| Price / FCFMarket cap ÷ FCF | 28.80x | 8.76x |
Profitability & Efficiency
OSPN leads this category, winning 6 of 7 comparable metrics.
Profitability & Efficiency
On the Piotroski fundamental quality scale (0–9), APPN scores 6/9 vs OSPN's 5/9, reflecting solid financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | — | +27.3% |
| ROA (TTM)Return on assets | -1.2% | +18.9% |
| ROICReturn on invested capital | +0.3% | +21.7% |
| ROCEReturn on capital employed | +0.2% | +19.6% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 5 |
| Debt / EquityFinancial leverage | — | 0.02x |
| Net DebtTotal debt minus cash | $154M | -$64M |
| Cash & Equiv.Liquid assets | $136M | $70M |
| Total DebtShort + long-term debt | $290M | $6M |
| Interest CoverageEBIT ÷ Interest expense | 0.85x | 1656.95x |
Total Returns (Dividends Reinvested)
OSPN leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in OSPN five years ago would be worth $4,861 today (with dividends reinvested), compared to $2,343 for APPN. Over the past 12 months, OSPN leads with a -20.3% total return vs APPN's -24.4%. The 3-year compound annual growth rate (CAGR) favors OSPN at -3.3% vs APPN's -13.2% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | -31.9% | -2.9% |
| 1-Year ReturnPast 12 months | -24.4% | -20.3% |
| 3-Year ReturnCumulative with dividends | -34.7% | -9.5% |
| 5-Year ReturnCumulative with dividends | -76.6% | -51.4% |
| 10-Year ReturnCumulative with dividends | +54.4% | -24.1% |
| CAGR (3Y)Annualised 3-year return | -13.2% | -3.3% |
Risk & Volatility
Evenly matched — APPN and OSPN each lead in 1 of 2 comparable metrics.
Risk & Volatility
APPN is the less volatile stock with a 0.81 beta — it tends to amplify market swings less than OSPN's 1.23 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. OSPN currently trades 65.1% from its 52-week high vs APPN's 50.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.81x | 1.23x |
| 52-Week HighHighest price in past year | $46.06 | $18.13 |
| 52-Week LowLowest price in past year | $19.79 | $10.07 |
| % of 52W HighCurrent price vs 52-week peak | +50.3% | +65.1% |
| RSI (14)Momentum oscillator 0–100 | 51.3 | 66.1 |
| Avg Volume (50D)Average daily shares traded | 779K | 593K |
Analyst Outlook
OSPN leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates APPN as "Hold" and OSPN as "Buy". Consensus price targets imply 34.8% upside for APPN (target: $31) vs 31.4% for OSPN (target: $16). OSPN is the only dividend payer here at 4.07% yield — a key consideration for income-focused portfolios.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $31.25 | $15.50 |
| # AnalystsCovering analysts | 19 | 15 |
| Dividend YieldAnnual dividend ÷ price | — | +4.1% |
| Dividend StreakConsecutive years of raises | 1 | 2 |
| Dividend / ShareAnnual DPS | — | $0.48 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.2% | +3.0% |
OSPN leads in 4 of 6 categories — strongest in Valuation Metrics and Profitability & Efficiency. 2 categories are tied.
APPN vs OSPN: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is APPN or OSPN a better buy right now?
For growth investors, Appian Corporation (APPN) is the stronger pick with 17.
8% revenue growth year-over-year, versus 0. 0% for OneSpan Inc. (OSPN). OneSpan Inc. (OSPN) offers the better valuation at 6. 2x trailing P/E (9. 6x forward), making it the more compelling value choice. Analysts rate OneSpan Inc. (OSPN) a "Buy" — based on 15 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — APPN or OSPN?
On trailing P/E, OneSpan Inc.
(OSPN) is the cheapest at 6. 2x versus Appian Corporation at 1159. 0x. On forward P/E, OneSpan Inc. is actually cheaper at 9. 6x.
03Which is the better long-term investment — APPN or OSPN?
Over the past 5 years, OneSpan Inc.
(OSPN) delivered a total return of -51. 4%, compared to -76. 6% for Appian Corporation (APPN). Over 10 years, the gap is even starker: APPN returned +54. 4% versus OSPN's -24. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — APPN or OSPN?
By beta (market sensitivity over 5 years), Appian Corporation (APPN) is the lower-risk stock at 0.
81β versus OneSpan Inc. 's 1. 23β — meaning OSPN is approximately 52% more volatile than APPN relative to the S&P 500.
05Which is growing faster — APPN or OSPN?
By revenue growth (latest reported year), Appian Corporation (APPN) is pulling ahead at 17.
8% versus 0. 0% for OneSpan Inc. (OSPN). On earnings-per-share growth, the picture is similar: Appian Corporation grew EPS 101. 6% year-over-year, compared to 30. 1% for OneSpan Inc.. Over a 3-year CAGR, APPN leads at 15. 8% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — APPN or OSPN?
OneSpan Inc.
(OSPN) is the more profitable company, earning 30. 0% net margin versus 0. 2% for Appian Corporation — meaning it keeps 30. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: OSPN leads at 20. 6% versus 0. 1% for APPN. At the gross margin level — before operating expenses — APPN leads at 72. 5%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is APPN or OSPN more undervalued right now?
On forward earnings alone, OneSpan Inc.
(OSPN) trades at 9. 6x forward P/E versus 26. 1x for Appian Corporation — 16. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for APPN: 34. 8% to $31. 25.
08Which pays a better dividend — APPN or OSPN?
In this comparison, OSPN (4.
1% yield) pays a dividend. APPN does not pay a meaningful dividend and should not be held primarily for income.
09Is APPN or OSPN better for a retirement portfolio?
For long-horizon retirement investors, OneSpan Inc.
(OSPN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1. 23), 4. 1% yield). Both have compounded well over 10 years (OSPN: -24. 1%, APPN: +54. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between APPN and OSPN?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: APPN is a small-cap high-growth stock; OSPN is a small-cap deep-value stock. OSPN pays a dividend while APPN does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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